The ‘Boilermaker’ is the perfect blend of two spirits in one: beer and whiskey. Lafayette, Indiana–the city where Boilermakers are born and made thanks to Purdue University– is also the perfect blend of two spirits in one: Midwestern railroad history and one very cool college town vibe. Other than being chock full of bars that serve up possibly the most hangover-inducing cocktail known to man, Lafayette was once a major railroad industry hub and now along with the adjoining town of West Lafayette, makes up an undeniably quirky Indiana locale that is home to college students, graduates and families alike.

Nicknamed the “Star City,” Lafayette is no 'second fiddle' kind of town. Big Ten sports, lots of sunshine and the ability to score an apartment for around $450 a month (!) are just a few things Lafayette boasts. In fact, there are quite a few reasons why this once small town is now quickly growing. Need a few? How about a blue ribbon winning school system, an active commercial area full of dining and shopping, a historic downtown complete with picturesque ice skating in the park and to top it off, plenty of local wineries and breweries to get you good and happy on the weekends? And that’s just scratching the surface.

Now that we’ve piqued your interest, let’s find you the perfect Lafayette digs.

Figuring out where you fit in here in Lafayette will take all of about two seconds: Lafayette living is a mix of young campus life and established Victorian houses with nearby lofts and apartments (not Victorian like corsets and tea, just Victorian like old and historically cool). Whether you come here for school, reliving the life you had in school, work (boring) or quality family time, Lafayette living won’t disappoint. Here is a key breakdown to the major Lafayette neighborhoods:

Downtown chic

Just across the river from West Lafayette is one of the metro area’s most prized possessions. Downtown Lafayette is a melting pot of people, business, culture and…well, pretty much everything. Historic buildings now house new lofts, beautiful old Victorian homes line the streets, and some converted industrial buildings are even rented out as apartments by family owned companies. Festivals, holiday events, movies in the park, shopping, dining and culture all take place on the historic streets of Downtown Lafayette. It’s an ideal area for young professionals, couples or families as it’s bursting with artsy folks and things to do. The lofts down here feature exposed brick walls and skylights, amazing views and old wooden beams, which, while once considered crappy, are now chic. Go figure. Rolling out of bed and walking to work or play may cost you a bit more here, though, depending on your desire level of fancy: rents on lofts in the area start around $825 for a 1BR but you can score a sweet apartment off Ferry or Eerie Streets for around $450.

Business in the front, party in the back

South of highway 25 sits a more quaint and tad quieter area of Lafayette, but it’s just as inviting. Living in the south side of the city means coming home to a quiet apartment just far enough away from the city center for peace, but close enough to be minutes from all the bars, shopping and action that the city (and downtown) has to offer. In the same part of town as Ivy Tech, the south side is an affordable area for students, teachers, young couples and families. The homes have character and are often established or historic. Rental costs are fairly cheap but apartments are still well maintained and renters don’t suffer for pinching pennies. A one bedroom here will cost you about $499 AND provide you with a pool, tennis court, fitness center and proximity to public transit and highway 52 for commuting. A perfect place to live if you sit somewhere between business-oriented professional and late-night party goer… and don’t we all?

Beer Pong and/or Tenure

On the West side of the Wabash River sits West Lafayette. Home to Purdue and many of its students, this slightly more upscale area is hip, walkable, and helps make up the greater Lafayette metro area. The homes here vary in size but are often on the larger, more historic end of the spectrum and are frequently set back on beautiful pieces of property. Professors and Purdue staff are the most frequent owners of the gorgeous, lofty old houses in this area, but if you can find one going on sabbatical, you may be able to scoop up a prime piece of real estate for a sub-letter’s song. If mansions aren’t quite your style or budget (sad for you), there are plenty of apartments to go around, too.

Apartment-wise, rents here are a bit more costly with 2 bedrooms going for around $950, but much of the housing includes free cable and paid utilities. Those not in school but still wishing to live in this area can take advantage of the well-priced, amenity-packed apartment complexes replete with things like pools, public transit, fitness center, and internet service starting at a paltry $530 for a 1BR. For those moving with children, West Lafayette is renowned for its excellent schools so you need not fear for young Johnny’s academic future. It would be ridiculous to say that West Lafayette isn’t extremely college-driven, meaning that students and their occasionally wild, frat party ways make up a majority of the population, but that- ’s not to say that families, seniors and young professionals don’t live here quite happily, too.

Before you get here, there are a few things to know (aside from how awesome it is). Don’t worry, there’s nothing scary on the list, unless you count the sometimes frigid winters.

Most, if not all, apartments include paid utilities of some kind. Whether its water, cable, internet or garbage, rent prices often include a utility or two.

Only interested in drinking Boilermakers? No sweat. Purdue may be a main focus of the area but it’s not the only school in town. There are two other spots available for those in pursuit of higher learning or looking for a teaching job: Ivy Tech Community College of Indiana and Harrison College are here for you.

Weather in Lafayette runs the gamut. In January, it’s not unheard of for the temps to be freezing or at least in the low 30s, whereas in summer things can heat up around here. Typically, the high is in the upper 80s with July being the hottest month. The winters can be cold but ice skating downtown and apartments with fireplaces make it worthwhile.

There are green spaces virtually everywhere in town. Jogging and biking trails are a “thing” here and people like to stay active. If you weren’t a runner before, you may become one now (or at least a brisk walker).

Public transit options from some apartments offer free fare to Purdue students.

Venturing around town can be done in a couple of ways. For public transportation, count on the CityBus, which will take you in and around the entire Lafayette area, including West Lafayette. Suburban Express takes students from Purdue to the Chicago area when school is in session and public transit from most apartments and certain areas in the city is free to students traveling back and forth to campus. Yes, we said free – a college kid’s favorite word.

If you have your own set of wheels, here are the highways and byways that will be your friend: I-65 on the east side of the city runs north and south and can take you to other Indiana cities like Indianapolis (Colts game anyone?) or to Gary, Indiana (Jackson 5 tribute tour, maybe?) The 231 connects with 43 and also runs north and south. For everyday travel, stick to state roads like 25 which runs in a circle around Lafayette, the 26 serving all your West Lafayette needs and the 38 which will take you smack into the heart of the city.

Lafayette, Indiana may not have an NFL team or even its own major airport (don’t cry, you can fly into Indianapolis) but what it does have are friendly people, some amazing living opportunities, a diehard college fan base, and one hell of a signature cocktail. It also has a median age of 32 and is Axl Rose’s hometown, so clearly this is a breeding ground for young rockstars in training. Kick ass enough for you? We thought so. Now put away your air guitar and start pounding the pavement for your new rockstar pad.

December 2018 Lafayette Rent Report

Welcome to the December 2018 Lafayette Rent Report. Lafayette rents remained steady over the past month. In this report, we'll evaluate trends in the Lafayette rental market, including comparisons to cities throughout the state and nation.

December 2018 Lafayette Rent Report

Welcome to the December 2018 Lafayette Rent Report. Lafayette rents remained steady over the past month. In this report, we'll evaluate trends in the Lafayette rental market, including comparisons to cities throughout the state and nation.

Lafayette rents increased over the past month

Lafayette rents have increased 0.1% over the past month, but have remained steady at 0.2% in comparison to the same time last year. Currently, median rents in Lafayette stand at $660 for a one-bedroom apartment and $800 for a two-bedroom. Lafayette's year-over-year rent growth lags the state average of 1.0%, as well as the national average of 1.3%.

Rents rising across cities in Indiana

Throughout the past year, rents have remained steady in the city of Lafayette, but other cities across the entire state have seen rents increase. Of the largest 10 cities that we have data for in Indiana, 8 of them have seen prices rise. The state as a whole logged rent growth of 1.0% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

Looking throughout the state, Carmel is the most expensive of all Indiana's major cities, with a median two-bedroom rent of $1,200; of the 10 largest cities in Indiana that we have data for, Muncie and Evansville, where two-bedrooms go for $720 and $860, are the only two major cities in the state to see rents fall year-over-year (-0.8% and -0.4%).

Noblesville, Carmel, and Fort Wayne have all experienced year-over-year growth above the state average (7.1%, 1.6%, and 1.2%, respectively).

Lafayette rents more affordable than many large cities nationwide

Rent growth in Lafayette has been relatively stable over the past year - some other large cities have seen more substantial increases; in contrast, rents in a few cities have actually declined. Lafayette is still more affordable than most large cities across the country.

Lafayette's median two-bedroom rent of $800 is below the national average of $1,180. Nationwide, rents have grown by 1.3% over the past year compared to the stagnant growth in Lafayette.

While rents in Lafayette remained moderately stable this year, similar cities saw increases, including Phoenix (+3.2%), New York (+2.3%), and Denver (+1.9%); note that median 2BR rents in these cities go for $1,060, $2,530, and $1,340 respectively.

Renters will find more reasonable prices in Lafayette than most large cities. For example, San Francisco has a median 2BR rent of $3,100, which is more than three-and-a-half times the price in Lafayette.

For more information check out our
national report.
You can also access our full data for cities and counties across the U.S. at
this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.